RSK.IQ.Staff, Author at RSK Compliance Solutions LLC • Page 34 of 122

RSK.IQ Question of the Week 12/17/18

Posted on December 17, 2018December 14, 2018 by RSK.IQ.Staff

TRID and Regulation B Application Requirements

Issue/Inquiry

Is there a difference between an application for the purposes of TILA-RESPA Integrated Disclosure (“TRID”) and one under Regulation B? Specifically, when does the clock start for making an underwriting decision? Is it day one of the TRID application or when the Bank receives the minimum documents it requires for an underwriting decision, regardless of what the TRID date is?

RSK.IQ Question of the Week 12/10/18

Posted on December 10, 2018December 7, 2018 by RSK.IQ.Staff

Is Acquisition by One Spouse of the Interest of the Other Spouse and Assumption of the Existing Mortgage Loan HMDA-Reportable?

Issue/Inquiry

A couple divorces, and one spouse buys the interest of the other spouse in their former residence. An Assumption and Release Agreement is entered into with the Bank, allowing the one spouse to assume the existing mortgage loan and releasing the other spouse from liability.

Is this transaction HMDA-reportable?

RSK.IQ Question of the Week 12/03/18

Posted on December 3, 2018December 3, 2018 by RSK.IQ.Staff

CRA Credit for CD Purchased from a Women or Minority-Owned Bank

Issue/Inquiry

Would the Bank receive credit under the Community Reinvestment Act (“CRA”) by purchasing a Certificate of Deposit (“CD”) from a minority-owned or women-owned bank, regardless of location?